EFRAG Outreach Unveils Insights on ESRS Taxonomy, Anticipates Delay in Mandatory Digital Reporting

EFRAG Outreach Unveils Insights on ESRS Taxonomy, Anticipates Delay in Mandatory Digital Reporting

By Prathamesh 9 April, 2024
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At an outreach event focusing on the EFRAG Sustainability Reporting Standards (ESRS) taxonomy, key EFRAG figures delved into various aspects of the taxonomy currently under consultation. Discussions emphasized the taxonomy’s design, legal framework, and the integration of sustainability disclosures.

Panelists highlighted the taxonomy’s emphasis on linking targets with corresponding policies and metrics, along with features facilitating easier navigation and screening of disclosures.

The final EFRAG taxonomy is anticipated by mid-year, with subsequent review by ESMA expected to extend the process until mid-next year. Consequently, mandatory digital reporting under CSRD rules is unlikely before the 2025 fiscal year, delaying data availability until early 2026.

To find out more details please visit : https://www.xbrl.org/